The Global Dairy Trade index fell almost a full percentage point in Tuesday’s trading action.

After two straight gains in late April and early May, the index dropped 0.9% to an average price of $3,488 per metric ton of dairy products.

Increases in butter and whole milk powder were offset by losses in Anhydrous milk fat, Cheddar cheese, and skim milk powder.

Butter prices were up 2.2% to $5,068 per metric ton, or $2.29 per pound.

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